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Jul 29 2026, 07:10 IST/BST
Danone
H1-26 update: solid delivery
DAVY VIEW
Danone delivered strong Q2 like-for-like (LFL) growth of +4.2% (VA: +3.7%), driven by pricing (+2.3%), with volume/mix improving sequentially to +1.9% (Q1: +1.5%; VA consensus: +2.2%). Volume/mix growth was broad based across regions and categories. Recurring EBIT was modestly ahead of expectations (c.1% beat), supported by ongoing productivity and expansion in Waters. The group reiterated full-year guidance; at first look, we expect limited changes to our forecasts.
